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Their statement is just codswallop hence market price drop, particularly as there is no trading update - conspicuously absent :(
Here due to Simon Thompson article recommending the share as a strong buy. Nice to see Directors buying a few yesterday but their combined total shareholding is less than 1% of shares and Arnab Basu owns most of that! He owns just shy of 3m shares out of 343m in issue. The other 4 directors hold about 800K between them. That's about £180K or just £45K on average each. Would like to have seen a bigger commitment from them but will probably take a position
Asset Manager Premior Milton own 19% or 64m shares
They seem to be gathering momentum and that's what they badly needed. There cost base is in place and if they keep that under control the margins should be huge.
Only have 10K which I bought in the 40's. Will top-up if dips below 50p for no good reason :)
Having reflected on this overnight, it is patently obvious that they did no in-house testing of the DermaSys placebo before committing it to a trial alongside MED2005. So rather than go the expense of finding or designing a proper placebo gel, they just ASSUMED DermaSys would do the job. To my mind, that is just downright incompetence by those involved.
I have well over 100K shares (and would sell if my loss was smaller) but I wont spend a penny more on this incompetent management. If they come out of this to the good then its more than their incompetence deserves. However, I am probably mostly angry at myself for being suckered in.
Two points?
1. I cannot understand why this webcast not released at the same time as the RNS (7 am) so that shareholders had ALL the facts by 8 am? Is not like they were taking questions from analysts.
2. To get approval, do they not need to know WHY Dermasys works? Ken openly admits he is guessing
As a shareholder I would vote to replace the CEO, given the chance. Complete tw*t.
thank you :)
9:18 sale of 3m shares at 8.57p - that must have hurt!
its under 10 now :(
Anyone know how we can access this at 12 today?
As Ananda indicated, Librum have come out this morining and recommended FUM a buy at 60p, so ui'm tempted to do the same
https://investing.thisismoney.co.uk/broker-views/index/date/10-12-2019/
14p already :(
So the placebo worked better than the drug - FFS!
To use the DermaSys, rather than ***** sugar as the placebo, looks like a complete setup for the reasons dalamanman indicates
Thanks MR LoIo. I posted the link as some might be confused as this is the LSE.co.uk website whilst the trade appears on the London Stock Exchange website. Have looked on a couple of other sites and the trade does not show there either - curious?
It was 31p so looks like a buy :)
Please excuse my ignorance but if 374K shares were sold and 177K shares were bought, did the broker top up with the balance of 197K or what happens?
551K shares traded in 62 trades
67% of trades were sales - 374K
33% of trades were purchases - 177K
Two thirds of all sales were made in just 8 transactions
LOAM (or some other big holder) still selling me thinks
If you look at the trades there is a pattern of someone selling 20K then another 10K a few seconds later - LOAM or some other significant family shareholder?
Cenkos - great summary - very informative.
My maths say he bought 1m shares when he topped up to 5% on 11th. There are 205m shares in issue and he increased his holding by 1/2% to 5%.
idg69 thank you for the advice - bought another slug at about 4pm. PS the name is inspired by fireballXL5 probably before your time ;)